Close to record high inventories with strong placements. One week to think about it and then the futures market reacted hard.
Wheat carry also trimmed vs. March
Provided we don't have another drought year, livestock producers could see a substantial decline in corn prices.
Meaningful change isn’t accomplished overnight. More often, it happens slowly by chipping away piece by piece until something new suddenly takes shape.
Packers have held leverage over cattle feeders for several weeks now and have been able to push prices lower.
The September USDA Cold Storage report said there is a lot of frozen meat in the country.
Cattle prices rebounded this past week after a long slide downward.